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GoGold Resources (GGD) - Silver & Gold. Hitting Targets & Deliverables - YouTube
Channel: Crux Investor
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in the world now to see a pit of that
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grade
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and that volume of balances those are
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really um
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not your everyday kind of thing but we
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go up to los ricos north and we can talk
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about something
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called exploration potential there's
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approaching 50
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targets up there we had up to it's about
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30 meters
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of over 700 grams silver equivalent
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really quite spectacular
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hello welcome to correct investor first
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of all thanks so much for watching this
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like it give us a thumbs up that helps
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you thought of go
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gold you can also catch this as a
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podcast a transcription or an article on
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crux investor.com and of course for crux
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investor club members you get to see
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this video
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click the button in the corner of the
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bell we caught up quickly today with
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brad langel who's the ceo of go
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gold um we spoke to him a couple of
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weeks ago and sort of went through
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his project las vegas project it's a
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good solid project they put out some
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numbers last week which uh
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uh that message so you know about 60
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silver 40
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gold solid grade solid widths um
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and if you look at the share price today
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i think the market would agree
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however we were excited about their las
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vegas north project and the potential
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there
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of not only finding more silver and gold
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there but
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joining up the darts as it were the
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north and the south
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um the initial drill results came out
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yesterday
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as good as we had hoped for we've just
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done a company report on this so you
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know our analysts were
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intrigued to see what what would come
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out and we weren't disappointed so
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take a look at the description below
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some of the topics we quickly uh
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romp our way through anything
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interesting in particular you can click
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on the
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number beside that topic i'll jump to
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that part of the video otherwise sit
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back and enjoy what is a
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really short brief uh and concise
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conversation with brad on the numbers
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brad how you doing sir good good morning
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good afternoon i guess for you
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yeah chihuahua mexico i love chihuahua
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mexico
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it's just sam sounds so much fun already
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but
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uh is it hot down there it's in the mid
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30s yeah
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it's pretty hot here in the summer okay
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and i i actually get to say the same
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thing it's in the mid 30s here in the uk
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i never thought i'd get to say that
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there you go right wow so you've got ac
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and i don't know
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um well i'll keep this i know you're
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busy in the middle of something but i do
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appreciate you
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like picking up the phone and taking our
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call
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we spoke just a few weeks ago about what
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was going on at los rico
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south and we noticed two press races one
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was on that
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uh on los ricos south but i'm slightly
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more excited about some of the drill
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drawers
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which just came out a couple of um days
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ago with it goes to los ricos north so
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let's do that in sequence so talk us
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through the mineral resources estimate
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came out of los ricos south first of all
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yeah no it was uh really kind of what
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was anticipated by us
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um we're always modeling as we go along
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and we drill here so we have a
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you know have a pretty good idea and
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then we hand it off
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to the third party uh consultant and
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you know they'll do things a little bit
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different sometimes as far as
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you know where they cap the high grades
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or you know how
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far they extend the high grades and
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things like that which are just uh
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little differences but we had the number
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that we were expecting
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and that's that's the great news so um
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we're always trying to deliver on what
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we think we're gonna
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uh what we're seeing and we you know we
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try to keep all our investors informed
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of how it's
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going and what we're seeing and uh you
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know this one certainly doesn't
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disappoint it turned out great
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so remind me some of the numbers though
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if you don't mind sure sure um
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so we categorize things as measured and
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indicated and inferred
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resources and measured and indicated
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just for some of your viewers what that
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means is
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that's your highest level of certainty
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um highest confidence in the number
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measured being the most in indicated
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being a little bit down from that
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and then we have inferred which would be
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your lowest confidence in the number
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but this deposit turned out to be you
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know
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well drilled in that we had for a maiden
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resource we had a lot of measured and
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indicated
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um in fact we had um in silver
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equivalence we had over 63 million
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ounces of silver equivalent at a grade
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of 197 grams
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for the measure to indicate it uh that
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would
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fall within uh the constraints of a pit
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so that's what we're looking for we're
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looking for something here
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that is bulk mindable and then we had
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another uh 20 million ounces
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of uh inferred silver yeah i mean that's
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pretty that's pretty
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pretty big number we're talking about
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you know plus 84 million ounces of
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silver
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you know pretty good great so yeah i i
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think the other thing to point out here
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is um
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that really in the world now to see a
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pit
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of that grade and that volume of ounces
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those are those are really um not your
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everyday kind of thing uh they're more
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of a rarity a lot of those have been
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mined out
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um in you know this is primarily
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silver this we want to develop this into
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it's going to be a sober mind and we why
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do we say it's silver it's both gold and
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silver it's
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more silver value than gold here
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probably about 60 percent
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uh silver and 40 gold but for some
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reason i still think
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in gold equivalents and
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really here in the measuring indicator
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we have over uh almost a
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2.3 grams of um of
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gold equivalent and that's done at a
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ratio of 87 to one
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you know before we talk about 75 to one
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and those ratios move
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around but really to have a pit that's
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over two grams gold equivalent
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is a real rarity um and this one will be
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we think is going to have some great
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economics
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um as we move on to those studies now
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and we're going to
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push to get a pea done here which is a
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primary economic assessment
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to show the great economics this thing
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can have
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and i'll just say one other thing that's
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really important here i pointed out on
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the polls
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what we see in what we think will be a
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pit
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here we see a lot of high grade right up
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in the top of this pit
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which could give a real quick payback
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and we'll be looking at that in the
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economic study
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and that's not going to be far down the
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road we're working on that right now
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remind everyone on the timing on that
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one um
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listen we're going to shoot for the end
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of this year
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to get that preliminary economics
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assessment out there
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but if we don't it'll probably be
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because
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it will be because there's a very good
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thing that's happened is that we've
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found more ounces
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that we want to update that resource
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before we put that pea out
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and if that's the case which is good
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news then it would be the first quarter
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of
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2000 okay but you at some point you have
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to put your flag in the sound and say
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right but we got to stop this we got to
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work out what we have here
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it's like you say it's a very very
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reasonable
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pit already so when is that drilling
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stopping
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we're still doing some drilling and we
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did drilling after that cutoff date
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uh so there were there are actually
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more ounces there there were great some
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great drills that didn't make it to the
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resource
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especially in that area called rascodero
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where we're really starting to find
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another warship
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so we're still doing a little bit of
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drilling there and um
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but we're also doing things like
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metallurgy which we have a high
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confidence level in
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because on the metallurgy we have years
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and years of records
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that show great metallurgical recovery
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so we're doing that and
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some geotechnical work that leads to
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that next study
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that preliminary economic assessment
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that will tell us
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what's in that asset value what's the
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internal rate of return you know what's
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the potential cost per ounce
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so those uh great economic numbers which
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a lot of our retail and
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institutional investors are going to
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want to see because they're going to
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want to start
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getting a net asset value on this and i
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think it'll be quite surprising
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that the net asset value approaches
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uh or exceeds as a company
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some other companies out there that are
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trading at much much higher
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uh market values than we are so that's a
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great thing about this next study
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so to that point and i hope so following
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up from the last presentation we
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kind of went through that chart of sort
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of satellite
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uh image for us can we talk about the
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most recent press release because that's
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what got my analysts excited okay
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the potential at los ricos north
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getting trying to understand what it is
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that you've got there you know you just
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started this process and then the
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potential of joining up the dots it
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makes it
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go from a sort of reasonable size mine
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through to something which could be
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quite extraordinary so
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if you can deliver it so tell me tell us
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a little bit about some of the numbers
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that um
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with regards to the loss requires north
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drilling that just has just come out
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well you know we think of los ricos as a
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district and it is it spans over 35
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kilometers
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and what we've looked at so far in los
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rico south is 3.2 kilometers mostly
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1.1 kilometers is where that beautiful
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looking
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resource that we uh have that should be
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a hit
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is uh located so then we look at los
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rico south and
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and just for a moment we'll talk about
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like the geological model in los rico
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south
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it is one big wide vane breccia
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that ranges from 10 meters to 45 meters
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wide
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and in the past they mined two to six
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meters of that and they left behind what
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we have published here which is
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beautiful um
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it's more or less one vein
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and we've drilled that and uh we're
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still doing that
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now let's move to let's rico's north and
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this is why i've always been so
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excited about los rico storm and
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and uh not to diminish leicester equals
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south we're doing great i mean
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you know close to uh the size of that
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resource you don't see that
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every day in those periods but we go up
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to los ricos north and we can talk about
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something
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called exploration potential it is
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actually
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a technical team under a term under the
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43101
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and what you can't do with expiration
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potentials you can't
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apply a grade to it until you've drilled
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it but we go up there and we map and we
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look and we say
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wow there's all these structures there's
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all these targets
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there's approaching 50 targets up there
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and those targets then we can look and
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say well they're this wide
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and if they're this long and some of
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them
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are literally you know five ten
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kilometers long
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um then we can say there could be
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this many times now there's one thing
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left to do
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this is the very exciting part just
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start drilling those tons
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and apply the grade to those tons which
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that calculation of course comes out in
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a resource
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and what we've done in the south and
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those are ounces
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and what we're really really so excited
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about in las rico's north
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is that the first area we're looking at
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about a six
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kilometer strike lane there's many
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structures in there
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they're wide up to 50 meters wide and
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on surface we've been mapping those and
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we've been getting
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samples many many samples above 5 grams
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gold equivalent
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and and we've actually started drilling
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so we have been drilling up in the first
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target called trini
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now trini had some historical drill
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holes so that's why we started there
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first
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and you know we released a few days ago
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uh we got it there was only three drill
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holes from the north that we had back
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from the lab but they were
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they were pretty uh exciting um and we
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thought they were
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material to get that out there right
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away because everybody's waiting for
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that first
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you know showcase of the drill hole from
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the north and and
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we had up to it's about 30 meters of
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over 700 grams
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uh silver equivalent in a in a drill
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hole
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really quite spectacular and the other
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two drill holes were very wide they're
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both
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you know approaching um uh in that
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kind of two gram equivalent that kind of
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same kind of grades that we're seeing in
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los rico south
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and now it's all about how many drills
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can we
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get on those targets and just drill
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drill off that
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exploration potential so what's the
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answer to that
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the answer is that we have one
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contractor there right now
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we have a second one coming and we look
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we're looking to have
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eight drill rigs running here um
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hopefully in the next
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six 30 45 days excellent so uh
[782]
excellent so what are you hoping to be
[783]
able to deliver to us when what what
[785]
news how quickly
[787]
what's coming down the line we have in
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the
[790]
lab or on the way to the lab we have the
[792]
next dozen drill holes
[794]
from the trini we have just completed
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the second drill hole
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in what's uh called the solomon
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montefevor
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mine that's one that really if you look
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at that expiration potential
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that target alone could have the same
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expiration potential
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as los rico's south what we had there in
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expiration potential
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again the term is tons you know what's
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the width of that
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what's the length of that assuming a
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depth there's tons
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and then we drill those tons so that one
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alone that's
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alone could have the same exploration
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potential
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so now we're putting grill holes into
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that and we're going to see
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what kind of grades come out of those
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tons and in in trini
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as well that's where we have two drill
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rigs going right
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now and we're upping that to uh two more
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to get four on that that's an area where
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it's it's just grid drawing
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so as fast as we can drill it trini get
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those results out
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and we can get resources so and that one
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we're pushing
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it's a very aggressive goal but we're
[859]
pushing to have that target
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drilled by the end of this year like
[863]
finished and um
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and be able to look and talk about
[867]
ounces there and
[868]
uh you know with uh 80 drill holes
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eight drill machines going i mean we're
[873]
going to be fast and furious with drill
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results
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and uh you know every week we should
[878]
have more and more drill results
[879]
so so that's that's what we can look
[882]
forward to
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and and we also there might be a little
[885]
more consolidation
[887]
that we do as we move along here i mean
[890]
we have
[891]
almost everything in the district
[892]
everything the core but sometimes some
[894]
opportunities
[895]
will arise small claims that maybe they
[898]
have historical data you know a whole
[900]
bunch of
[901]
data points that would be again easy
[904]
just to jump in
[905]
get more rigs maybe it's going to be 10
[906]
rigs and just put a couple on that
[908]
and drill it off brilliant i mean i'm
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glad to see these numbers
[913]
they they're sort of you know what we
[916]
expected
[917]
um we want to see more data coming
[919]
through and i'm glad that there's going
[920]
to be
[921]
eight drill rigs up there that that
[922]
could be fantastic so like
[924]
i know you're short for time so like
[926]
thanks for taking the call
[928]
making the time to speak to us um do
[930]
pick up the phone if there's more news
[932]
um
[932]
from from the lab we'd be delighted to
[934]
take that call well um
[936]
you know to everybody watching out there
[938]
there will be lots more news and there's
[940]
lots of
[941]
excitement and uh our team really
[944]
i've said it before and this is you know
[947]
i really feel this in the team field
[949]
says
[950]
this is the best thing for sure
[954]
that i've had in 20 years and time will
[956]
tell maybe this is the best thing i've
[958]
had in my career
[958]
so we're excited and uh hey just keep on
[962]
watching those
[962]
press releases it would be great
[972]
you
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